February 22, 2024
SANTA FE, NEW MEXICO – Western Resource Advocates (WRA), Coalition for Clean Affordable Energy (CCAE) and Prosperity Works applauded the Public Regulation Commission for adopting a strong transportation electrification plan for the Public Service Company of New Mexico (PNM), the state’s largest provider of electricity.
PNM’s approved plan includes $35 million for a variety of transportation electrification uses, from charging infrastructure, ways to electrify transit and the purchase of zero-emission vehicles (ZEVs) rebates for cars and e-bike rebates, all with a strong focus on equity and inclusivity.
PNM’s transportation electrification plan shows how utilities can play a big role in ensuring that zero-emission vehicles are robustly supported for an array of uses. The health and financial benefits of zero-emission vehicles are clear, but more EV charging and assistance for low-income New Mexicans is needed to promote rapid, equitable adoption of this technology. Thanks to the Commission’s approval, PNM’s plan will promote the benefits of ZEVs, reduce vehicle costs for low-income buyers, and make the installation of chargers easier.
Many of the recommendations made by WRA and partners to the Commission on PNM’s latest transportation electrification plan were accepted. Most notably, the Commission approved the first direct-utility rebate in New Mexico – a program that will help ensure low-income PNM customers will be eligible to receive up to $4,000 to purchase a new or used zero-emission vehicle. Additionally, the Commission approved an e-bike purchase rebate for standard and low-income customers.
“The price of new and used EVs continues to drop into affordable ranges,” said Ona Porter of Prosperity Works. “Federal rebates combined with PNM’s low-income rebates bring ownership of a new or used EV within reach to low-income New Mexicans.”
The Commission also accepted the recommendation by WRA and partner advocates that PNM’s transportation electrification program design be streamlined to make incentives easier for customers to use. This more user-friendly design will apply to fleet, workplace, multifamily and public charging programs, and will hopefully lead to increased program participation thanks to a less-confusing process. In addition, PNM is now required to track TEP incentives that go to underserved communities.
“The approved TEP makes it easier for individuals to apply for low-income EV rebates, EV charging installation rebates and lower utility rates for charging,” says Cara Lynch attorney for Prosperity Works and CCAE.
“We know EVs are less expensive to own and operate than gas cars. With New Mexico’s new state rebates, existing federal credits available at point of purchase, and PNM and other utilities’ improved rebates, EV accessibility and affordability has skyrocketed for New Mexicans,” said Camilla Feibelman, Sierra Club Rio Grande Chapter director. “EV adoption has put downward pressure on rates in other states because most charging can be done at night, when demand and prices are low, so this is a win-win-win for New Mexicans.”
Finally, the Commission accepted WRA’s recommendation that PNM robustly support multifamily ZEV charging, with an increased incentive for chargers in low-income multifamily housing.
The number of ZEVs in PNM’s service area is expected to quadruple by 2026, to roughly 33,280 vehicles.
The Commission will issue a final order by March 1.
Contact:
James Quirk, 908-902-3177, james.quirk@westernresources.org
